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The State Bank of Vietnam unexpectedly resumed issuing central bank bills worth VND8 trillion (about US$350.9 million) with a one-week term at 1.3% per year. The central bank's last issue had been on March 3.
The move aims to lift foreign exchange reserves, since commercial banks bought dollars from individuals and institutions but did not sell them to the central bank.
Higher interbank rates raise the cost of holding dollars and may push banks to sell dollars to the central bank, which tightens dollar supply in Vietnam. This has little direct effect on feed grain or oilseed prices.
en.vietstock.vnVietstockJul 19, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
